KỲ THI OLYMPIC KINH TẾ VIỆT NAM NĂM 2022

ĐỀ THI CHÍNH THỨC - VÒNG 2

PHẦN TRẮC NGHIỆM

Câu 1. The term "money" used by economists means:

#531992
A. all assets, including real assets and financial assets. Tổng số câu hỏi: 20
B. all financial assets, but real assets are not regarded as money.
1 2 3 4 5 6
C. all wealth.

D. those types of wealth that are regularly accepted by sellers in exchange for goods 7 8 9 10 11 12
and services.
13 14 15 16 17 18
Câu 2. If a monopolist's fixed cost doubles, this will:
#532008
A. halve the profit that the monopolist earns. 19 20

B. not lead to any changes in the profit-maximizing price that the monopolist charges,
provided that it continues its production.

C. double the profit-maximizing price that the monopolist charges.

D. lead the monopolist to shut down.

Câu 3. Refer to Figure below.
#532000

If the budget line shifts from AB to A'B' we can infer that:

A. the prices of both X and Y have decreased.

B. the price of X has decreased and the price of Y has increased.

C. the prices of both X and Y have increased.

D. the price of X has increased and the price of Y has decreased.

Câu 4. The world which does not have scarcity of resources would lead to:
#531990
A. Zero prices for all goods and services

B. All the answers mentioned are correct

C. Everyone would not need to learn Economics

D. It would be unnecessary to set up markets

Câu 5. Assume that one economy consists of 1,500 food-producing companies with the same
#532004 revenues and costs. The revenues and costs for each company are shown in the table
below:

GDP of this economy is equal to:

A. 225,000,000 VND

B. 250,000 VND

C. 225,000 VND

D. 250,000,000 VND
Câu 6. 2 players, Player 1 and Player 2, have to make their decisions simultaneously without
#532005 knowing what the other decides. Player 1 has two strategies, A and B. Player 2 has two
1/4
 KỲ THI OLYMPIC KINH TẾ VIỆT NAM NĂM 2022
ĐỀ THI CHÍNH THỨC - VÒNG 2
strategies, C and D. Their payoffs are shown in the Table below. PHẦN TRẮC NGHIỆM

Tổng số câu hỏi: 20

1 2 3 4 5 6

7 8 9 10 11 12
How many pure-strategy Nash equilibria are there in this game?

13 14 15 16 17 18
A. 0

B. 2 19 20

C. 4

D. 1
Câu 7. Suppose that rice consumption decreases by 5% in response to a 10% increase in the price
#531996 of rice. Such a price increase would cause households to:
A. indeterminate from the given information.

B. spend less of their income on rice.

C. spend more of their income on rice.

D. spend the same amount of their income on rice as before.

Câu 8. Money has the following functions, EXCEPT:
#531994
A. The value of money does not change in inflation times.

B. Money makes it easier to trade services.

C. Money makes saving easier.

D. Money makes it easier to buy and sell goods.

Câu 9. As our national income expands, we would expect:
#531998
A. our exports to decrease

B. our imports to decrease

C. our exports to increase

D. our imports to increase

Câu 10. At the same time, what are two things that GDP (Gross domestic product) measures:
#532003
A. the total income of all the people in the economy and the total expenditure on the
output of goods and services in the economy.

B. the total income of households in the economy and the total profit of firms in the
economy.

C. the total spending of all the people in the economy and the total saving of all the
people in the economy.

D. the value of the economy's output of goods and services for domestic citizens and
the value of the economy's output of goods and services for the rest of the world.
Câu 11. If potatoes are given away for free, people should consume:
#532001
A. potatoes until the total utility from consuming potatoes decreases to zero.

B. no potatoes because utility maximization requires that marginal utility equal price.

C. an infinite quantity of potatoes.

D. potatoes until the marginal utility from consuming potatoes decreases to zero.
Câu 12. Assume that the textile and garment industry will be able to produce the same quantity of
#531991 output as before if it employs 2 fewer units of labor and 1 more unit of capital, while the food
processing industry will be able to produce the same quantity of output as before if it
employs 1 more unit of labor and 3 fewer units of capital. The total output of the economy
will increase if:
A. 1 unit of labor is shifted from the textile and garment industry to the food processing
industry and 1 unit of capital is shifted from the food processing industry to the
textile and garment industry.

B. All the answers mentioned are correct.

2/4
 KỲ THI OLYMPIC KINH TẾ VIỆT NAM NĂM 2022
ĐỀ THI CHÍNH THỨC - VÒNG 2
C. 1 unit of labor is shifted from the textile and garment industry to the food processing PHẦN TRẮC NGHIỆM

industry and 2 units of capital are shifted from the food processing industry to the
textile and garment industry.

D. 1 unit of labor is shifted from the textile and garment industry to the food processing
industry and 3 units of capital are shifted from the food processing industry to the
textile and garment industry.
Tổng số câu hỏi: 20
Câu 13. Refer to Figure below.
#532002
1 2 3 4 5 6

7 8 9 10 11 12

13 14 15 16 17 18

19 20

As price falls from Pa to Pb, which demand curve represents the most elastic demand?
A. D

B. D1

C. All of the above are equally elastic.

D. D2
Câu 14. A monopolist faces a linear demand function. If its total revenue is maximized at the price of
#532007 12, we can conclude that:
A. All the answers mentioned are correct.

B. Demand is elastic at any price lower than 12.

C. The firm's profit-maximizing price is 12 if and only if the marginal cost is zero at all
levels of output.

D. The quantity demanded for its output is zero at any price equal to or greater than
24.
Câu 15. Mai and Lan are consuming the same quantity of rice. Given that they are purchasing rice at
#532009 the same price, if Mai's demand for rice is more elastic than Lan's, then:
A. It is not possible to compare Mai's consumer surplus with that of Lan given the
above information.

B. Mai's consumer surplus is smaller than that of Lan.

C. Mai's consumer surplus is larger than that of Lan.

D. Mai's consumer surplus is equal to that of Lan.

Câu 16. The adult population of Vietnam must be equal to:
#531995
A. "the employed" plus "the unemployed" in Vietnam.

B. the sum of "the employed", "the unemployed" and "not in the labor force" in
Vietnam.

C. the sum of "the employed", "the unemployed" and "labor force" in Asia.

D. the total of "the employed", "the unemployed", "labor force" and "not in the labor
force" of Vietnam.
Câu 17. An increase in the demand for Vinfast automobiles will:
#531999
A. increase the demand for rubber

B. decrease the demand for recyclable newspapers

C. decrease the demand for rubber

D. decrease the supply of rubber

Câu 18. When the SBV (State Bank of Vietnam) buys government bonds:
#531997
A. the money supply decreases.

B. the money supply does not change.

C. the money supply increases.

D. the money supply decreases and right after that increases.

Câu 19. An increase in the cost of a fixed input would cause:
#532006
A. All the answers mentioned are correct.

3/4
 KỲ THI OLYMPIC KINH TẾ VIỆT NAM NĂM 2022
ĐỀ THI CHÍNH THỨC - VÒNG 2
B. the average total cost to shift upward. PHẦN TRẮC NGHIỆM

C. the average variable cost to shift upward.

D. the marginal cost to shift upward.

Câu 20. The following would lead to a shift in the demand curve for chicken, EXCEPT:
#531993
A. a change in tastes for chicken
Tổng số câu hỏi: 20
B. a decrease in the price of pork
1 2 3 4 5 6
C. an increase in the income of chicken consumers

D. a change in the price of chicken 7 8 9 10 11 12

13 14 15 16 17 18

19 20

HẾT - PHẦN TRẮC NGHIỆM

4/4
 KỲ THI OLYMPIC KINH TẾ VIỆT NAM NĂM 2022

ĐỀ THI CHÍNH THỨC - VÒNG 2

PHẦN TỰ LUẬN

Câu 1. OPEN QUESTIONS

#532026 Solve 4 questions out of 5.
If you provide solutions for all 5 questions, all of them will be commented by the Jury,
Tổng số câu hỏi: 5
but only 4 will add to your score. In this case, if you do not specify which to grade,
the maximum grade of 5 will be excluded. 1 2 3 4 5

Every open question is worth 30 points.

If not stated otherwise, think of all goods, services and assets as of infinitely
divisible.
Numbers of firms and people may be only integers.
Convey your ideas clearly. Do not skip important logical transitions in your
reasoning. Good luck!

Inflation rate in Vietnam is increasing and is under lots of pressure to continue increasing in
the upcoming time.
a. (10 points) Please state the reasons causing inflationary pressures in Vietnam at the
moment.
Then please explain those reasons using Macroeconomics theory and if relevant, illustrate
by diagrams.
b. Inflation causes negative effects on different sectors of Vietnam's economy. In order to
prevent and control inflation, from now, what policies/solutions can be implemented by each
of the following sectors in the economy:
- Government (10 points)
- Enterprises (5 points)
- Consumers (5 points)
Đáp án văn bản:
Không có câu trả lời
Đáp án ảnh chụp
Câu 2. A monopolist faces the following demand for its product: QD = 60 - P. Its cost function is TC
#532025 = 0.5Q2 + 6Q + 20.
a. (10 points) Calculate the monopolist's profit-maximizing price and quantity.
b. (10 points) Calculate the socially optimal price and quantity.
c. (10 points) Calculate the deadweight loss caused by monopoly in this case. How could
the government use price controls to bring the monopolist' output quantity to the socially
optimal level?
Đáp án văn bản:
Không có câu trả lời
Đáp án ảnh chụp
Câu 3. Consider a game theory problem with two players: a driver and a patrol. The driver violates
#532027 traffic law.
In that circumstance, the patrol can choose one of the three actions: i) charge a true amount
of fine F and provide the source of legal document for that fine at their cost of time Cp
(action T); ii) charge a correct amount of fine F but do not give any reference then suggest a
bribe B (action B); iii) announce the driver an amount of fine W higher than the correct
amount F without providing any reference. The patrol then can seize the difference W-F
(action W).
Then the driver can choose one of the two actions: i) follow the patrol instruction and the
case is resolved immediately (action f); ii) questioning the patrol (action q), only pay a
correct fine F, and bear the time cost to figure out this correct fine (either Cp in case that the
patrol provide references or Cd otherwise, where Cd > Cp). In the case that the driver
questions the patrol, the patrol also bears the same time cost as the driver.
The driver and the patrol decide their action to resolve the case simultaneously. Each party
has full knowledge of the other’s possible actions and payoffs in each scenario.
After the case is resolved, it can be randomly selected for further investigation with the
probability of 10%. The further investigation always finds out the truth. If the case is resolved
lawfully by both parties, there will be no additional actions. If the case was detected as
unlawful, the following adjustment will be made:
- If the patrol is corrupted (i.e action B or action W), they are charged a penalty equal to
the factor a multiplied with the money they get from corruption (that is a factor a multiplied
with either the bribe amount B or the seized amount W-F).
- If the driver follows the patrol request of bribe B, they will not only lose their bribe B but
also need to pay the correct fine F and additional charge of bribing public officer an amount
of b multiply time cost Cq they should have spent to comply with the law.
- If the driver follows the patrol request and pays a fine W, they will get back the difference
of their payment and the actual fine W-F.
The patrol and the driver only play pure strategies. Provide answers to following questions:
a. (7 points) Give the matrix of expected payoff function for the driver and the patrol as the

1/3
 formula of F,B,W,Cp,Cq,a,b
Hint:
- The expected payoff function of a party is
0.1* (payoff for the party under further investigation) +0.9*(payoff for the party under no
further investigation).
- Payoff for parties need to be written in 6 different outcomes as 6 cells in the following
table with the first place of ( , ) as the payoff for the driver and second place as payoff for the Tổng số câu hỏi: 5
patrol.

1 2 3 4 5

b. (8 points) Given that F = $250; B = $150; Cd = $100; W = $300; Cq = $50; b = 16, is there
any dominant (either weakly or strictly) strategy for the driver in this problem?
c. (7 points) Using the same information given in part 2 of this question, under which
condition of factor a will the patrol consider T as a (either weakly or strictly) dominant
strategy?
d. (8 points) Still use the information given in part 2 of this question and knowing that a = 8,
find a pure-strategy Nash equilibrium for this problem (not necessarily the unique Nash
equilibrium).
Đáp án văn bản:
Không có câu trả lời
Đáp án ảnh chụp
Câu 4. According to a lot of international organizations such as World Bank, International Monetary
#532029 Fund (IMF), Oxfam, etc.: "The Covid-19 pandemic has deepened the income inequality,
thereby widening the wealth gap".
a. (10 points) Based on your knowledge, please clarify the statement in order to answer
"How is the income inequality caused by Covid-19 illustrated?"
b. (10 points) Explain the reason(s) why the Covid-19 pandemic has deepened the income
inequality and widened the wealth gap.
c. (10 points) What are the policies/solutions to reduce income inequality and tackle wealth
gap widening caused by Covid-19?
Đáp án văn bản:
Không có câu trả lời
Đáp án ảnh chụp
Câu 5. Buyer and seller of test kits meet each other in a pharmacy. In each period, before going to
#532028 the pharmacy, the seller has to decide to sell kits of high quality (H) or low quality (L) to the
buyer. The buyer, without knowing the quality of the kits, has to decide whether to buy (B) or
not to buy (N). Only when the buyer returns home does he learn about the quality of the kits.
The payoff matrix for each period, which is known to both parties, is shown in Table below:

Each party's total payoff is the sum of the payoffs in all periods. The seller and the buyer
play only pure strategies.
a (10 points). Suppose that the buyer and the seller meet each other only once. Find the
Nash equilibria of the game.
b (5 points). Now, suppose that the buyer and the seller meet each other in infinitely many
periods. Before the first period, the buyer sends the seller a message: "I will buy the kits in
the first period, and as long as you sell me high quality kits, I will always buy. However, if
you sell low quality kits in any period, I will never buy the kits from you again". Should the
seller sell high or low quality kits?
c (5 points). Now, suppose that the buyer and the seller meet each other in 2 periods.
Before the first period, the buyer sends the seller a message as in (b). What will happen if
the seller:
(i) always sells high quality kits?
(ii) always sell low quality kits?
(iii) sells high quality kits in the first period and switch to low quality kits in the second
period?
(iv) sells low quality kits in the first period and switch to high quality kits in the second
period? What will the seller do if he wants to maximize his total payoff? Calculate the seller's

2/3
and the payer's payoffs in this case.
d (10 points). Now, suppose that the buyer and the seller meet each other in 2 periods. The
buyer knows that the seller expects the buyer to buy the kits as long as the seller sells high
quality kits in all previous periods, but the buyer does not commit to do so.
(i) If the buyer could guess what the seller will do to maximize his total payoff as in (c),
what should the buyer do?
(ii) Continue with this logic, if the seller could guess what the buyer will do as in (d-i), Tổng số câu hỏi: 5
what should the seller do?
(iii) Continue with this logic, if the buyer could guess what the seller will do as in (d-ii), 1 2 3 4 5
what should the buyer do? Calculate the seller's and the buyer's total payoffs in this case.

Đáp án văn bản:

Không có câu trả lời
Đáp án ảnh chụp

HẾT

3/3